Borrower Frequently Asked Questions

Magilla is your search engine for loans in America. A borrower answers only a handful of
questions, NEVER any personal information, and, in 24 - 48 hours, gets proposals from
traditional, FDIC-insured banks or other lenders.

To save an enormous amount of time and find the best terms for your loan. Once you submit
our form, actual loan officers instantly receive your loan request. Within 24 - 48 hours, Magilla
sends you an easy-to- read comparison chart, or “MagChart,” showing all the lenders’ proposals.
Magilla eliminates endless hours of filling out multiple loan applications and saves you from
meeting after meeting with various lenders. Simply put, we have streamlined the loan process
enabling you to do what you do best… run your business.

First, and foremost, we are NOT a lender. Magilla matches you with the precise FDIC-insured
lenders seeking your type of loan… today. Many borrowers do not realize, once a bank fills its
quota of a certain type of loan, it changes direction and shifts its attention to another type of loan
to keep their bank’s internal loan portfolio balanced. A regular borrower would never know which
bank brand is aggressively pursuing their type of loan at that specific moment in time.
With Magilla, a borrower sees who, across the Nation, is most aggressive for their type of
loan… at that moment!

No, because the only identifying piece of information you place on our site is the email you choose to give us. Magilla asks the most minimal information a lender would need for a snapshot of your home or business. Your name, social security or phone number, nor your property address are required. Now, when you connect with a lender, you MAY choose to provide your information, but you are NEVER required. Magilla’s founding principle is to respect the privacy of both its borrowers and lenders.

Generally, 24 - 48 hours. But, as our systems scales, even shorter. Once you submit your
loan, lenders have ten days to make proposals. While you may start a conversation with a
lender at any time, your MagChart will only be complete after ten days

Yes. While Magilla drastically reduces the amount of time and aggravation it takes to find the proper lender with whom to work, you will still have to submit your financials to that lender to finalize your loan. And, the time it takes to close a loan varies from lender to lender.

Magilla realizes all loans are not serviceable by traditional, FDIC-insured lenders, but, at Magilla, we
want all of our users taken care of. We established Magilla Express to give all borrowers the best chance
to find funding success.

Magilla is not a lender, broker, or financial advisor. Using Magilla is not to be construed as submitting a formal loan application and responses from participating lenders and lending partners are not guaranteed nor are they to be construed as formal offers to lend. Magilla, Magilla Loans, MagChart, MagScore, and the Magilla process are trademarked with patents pending. All product and company names are Trademarks™ or Registered® Trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. All rights reserved.